A) Homework Ltd. has the following information on its inventories. Date Transaction 01.01.20X1Opening inventory 01.10.20X1 Purchase 01.25.20X1 Purchase 01.30.20X1Sale 01.31.20X1 Closing Quantity (unit) Purchase price ($/unit)Sales price($/unit) 4 205 9 210 17 215 24 300 ? Calculate the missing figures on 31st January with FIFO method Inventory balance on 31.December 20X1: $

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A: Cost of Goods Sold=Cost of goods available in inventory-Cost of ending inventory

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A: Cost of goods available = (100 x P50) + (300 x P54) + (90 x P60) = P26,600

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A: Total cost of goods available = (100 x P50) + (300 x P54) + (90 x P60) = P26,600

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A: PLEASE GIVE A LIKE, your response matters  [a] $ 15.50 per unit  [b] $ 6975  [c] $ 5425

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A: FIFO stands for First in first out. The older inventory is sold first using FIFO method.